J. T. Jenkins Co. v. Kennedy

This is an appeal from a judgment entered in favor of plaintiff J. T. Jenkins Co. in the amount of $9,527.20 plus costs. Plaintiff is a distributor of Kenworth trucks; at the time in question, defendant Terry Kennedy, dba Kennedy Enterprises, was engaged in the business of operating a fleet of refrigerated trucks throughout the United States. On March 1, 1966, plaintiff entered into a conditional sales contract with defendant for the sale of three new trucks and the refinancing of six trucks previously purchased. Title, to another truck which was owned outright by defendant was given as additional security under the contract. The purchase price of the new trucks and the refinancing of the six previously purchased trucks totaled $200,703.13. Defendant defaulted in his July and August instalments. At the time of the default, there was a balance of $177,434.02 due on the contract. Defendant arranged a meeting in late August with representatives of the three secured creditors, Julian White, the credit manager and vice-president of plaintiff corporation, Roy Whittaker, the credit manager of Utility Trailer Sales, Jack Bankman, the president of Thermo King Refrigeration Sales,…